FX:GBPUSD   British Pound/U.S. Dollar
After the release of the Manufacturing PMI this morning with actual figures being better than previous and forecasted figures there has been a spike in GBP up to the two descending trend line channels of which have been rejected up to now. I am expecting a little bit more retracement to the downside following this spike, however will be looking to see if there is a breakout from this outer trend line , at which point i will be trading bullish .

Although i don't trade fundamentals, there is a few news events which could cause big fluctuations in this pair today and tomorrow, especially with non-farm payroll so i will trade with caution.
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